Oliver says there’s no housing bubble

by
Jamie Henry |
29 Jan 2015

Some people will never be convinced but yesterday federal finance minster Joe Oliver again repeated the government’s opinion: “we don’t think there’s a bubble.” He said that the CMHC and the Organization for Economic Cooperation and Development agree. Oliver said that the government is monitoring the situation regarding the housing market and levels of personal debt, especially with interest rates trending lower, but they do not see a major concern currently and believe that people are not buying homes they can’t afford. The finance minister was also asked for his opinion of the banks reducing their lending rates by less than that of the central bank but he would only say that it is a “private sector decision.”

What is so smart about non affordable real estate, anyway? Why are we so proud about how much we're paying for our houses? These are paper values and the "pie in the sky" opinion manipulation through media and ignorance of immigrants to this country. Bubble? The one everybody is referring to burst some time ago, only the effect is yet to rain down. According to new immigration policies we need new type of immigrant, with million dollars to buy in to artificial values as a condition for the citizenship. Sounds like Bernie Madoff is back in business with his Ponzi scheme?